Vertical SaaS, Today — 3rd Edition

Anna Khan
1 min readJan 10

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Happy New Year, vSaaS nerds!

We’re back with our 3rd edition of Vertical SaaS, Today — our monthly round up of how vSaaS is performing in the public markets.

Today we will review how the markets performed at end of market close (January 9th 2023.)

Key Metrics (As of 01/09/23)

  • Total Number of Companies: 21 — No change from November ’22.
  • Total Market Cap: $218.5B — down 4.7%.
  • Largest Market Cap: Shopify still claims the top spot at $47.3B (down from $52B end of November ‘22.) Autodesk is trailing at $41.5B.
  • Lowest Market Cap: CS Disco displaced Blend Labs for the lowest market cap at $363.1M.
  • Average Market Cap: $10.4B — down 4.9%.
  • Average LTM Total Revenue: $1.48B.
  • Highest LTM Total Revenue: Constellation Software still claims the top spot, at $6.16B of LTM Total Revenue.
  • Average LTM Gross Margin: 56.1%, in line with last month’s numbers.
  • Highest EV/LTM Revenue Multiple: Aspen Technology is at the top spot at 18.2x.
  • Lowest EV/LTM Revenue Multiple: Blend Labs at 1.0x, back up from 0.7x last month.
  • Average EV/LTM Revenue Multiple: Down to 6.4x, significant decline from 8.3x last month.
  • Median EV/LTM Revenue Multiple: 6.9x.

Follow us at @vSaaSToday for more info.

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Anna Khan

GP @CRV, Alum @HarvardHBS @Stanford. I like a bagel with attitude.